The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: January 12th-19th, 2023
Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 129 (139) *155
Sold: 60 (49) *97
Sale To Listing Ratio: 47% (35%) *63%
Price Changes: 42 (59) *24
Listings that went conditional/pending: 114 (65) *136
Expired/Cancelled/Withdrawn: 42 (50) *40
Total Active Halifax/Dartmouth Inventory: 1,016 (1,040) *576
Absorption Rate in weeks: X
Single Family Home Stats
Active Single Family Home: 462 (483) *159
Average Single Family Home List Price: $578,950 ($525k) *$543k
Average Single Family Home Selling Price: $555,000 ($515k) *$603k
Single Family Home Sale to List Ratio This Week: 96% (98%) *111%
Median Single Family Home List Price (6 mo): $460,000 ($460k) *$399k
Median Single Family Home Sold Price (6 mo):$460,000 ($461k)*$440k
Average Days on Market Single Family Home: 44 (41) *26
Active Condos: 67 (71) *37
Average Condo Listing Price: $554,900 ($525k) *$485k
Average Condo Selling Price: $451,250 ($510k) *$511k
Condo Sale to List Ratio This Week: 81% (97%) *105%
Median Condo List Price (6 mo): $395,450 ($395k) *$340k
Median Condo Sold Price (6 mo): $390,000 ($390k) *$360k
Average Days on Market Condos: 39 (53) *59
Active Vacant Lots: 383 (381) *274
Typical January activity this week, with numbers a bit all over the place. Inventory reported down from last week thanks to decent sales and a smaller count of listings that hit the market. Buyer activity really ramped up from last week, almost doubling the amount of listings that fell under contract, although, buyer activity still remains lower than last year at this time. Values in both tracked products reported higher than their average median prices, but these numbers can track a bit oddly with the limited weekly numbers to draw from. Speaking of, the six month median values, both list and sale, for both tracked products remained relatively the same, only taking marginal reductions. The single family home six month median prices have hit parity this week, but I do suspect we will see both list/sale numbers continue their downward swing. How much farther with they fall? That is a great question, but the general feeling is that we are getting close to the bottom of the correction. My guess is that we will see single family homes plateau around $450k listing prices and sell around $445k on average, where condo's will hit the market around the $370k mark and sell in the $460k's on average. Of course these are just suspicions, but Halifax was due for an increase in housing for awhile, the pandemic market simply fast forwarded this increase. Perhaps the bottom is still a ways away, or maybe we are there now and heading into a crazy Spring! Only time will tell, and I have you covered, so be sure to stay tuned to the blog and stay informed! Thanks for stopping by!
The Weekly "Adogtable"
Hello Maritimers! Allow me to introduce myself, the name’s Smidge. I am approximately 5 years young, and a manageable 55 lbs. in weight. I hail from a far away land called “Louisiana”…I think. As a dog I’m not well-versed in maps and geography. What I may lack in terms of geographical knowledge, I more than make up for in affection!
The weather in Nova Scotia doesn’t really faze me. Whatever “snow” is, it really isn’t anything to write “home” about (could that home be yours?!). I am fully housebroken and the only accident I had in my foster home could be chalked up to miscommunication. My foster parents and I didn’t know each others’ routines at the time. Aside from that I am an outdoor elimination Queen!
I enjoy the company of other dogs, unless they’re walking down the street and I’m glaring at them through the living room window. That will elicit a growl from me.
Living in a foster home with a fenced backyard, I have been able to partake in zoomies with my host fur-sibling. I have an excellent recall both outdoors (not tested off-leash) and indoors. On the topic of leashes, I am still working on my leash etiquette. One could describe me as a “puller.” Oh, when it’s time to leash up and go out the front door, I can be a bit much. Just too excited I guess. I’m working on that too, I swear!
Can we talk about my love-hate relationship with automobiles? Well I don’t hate riding in the car, I just get restless in the back seat and find it hard to lay down and snooze until we get to our destination, unlike my fur-sister. Sticking my snoot out the window helps distract me from my anxiety in the car, though.
I love to be in contact with my people. Laying curled up on the furniture beside my foster parents or sharing the big bed at nighttime are some of my favourite ways to pass the time. Despite my age I still have the occasional “puppy” moment. I love head/ear/chin scritches, and won’t pass up being pet anywhere else, but prolonged petting on my sides or above the base in my tail can result in hand(s) in (my) mouth due to excitement. I don’t bite maliciously or aggressively and am easily redirected to more appropriate chew toys should the need arise.
Some might say I wear my heart on my…tail? Can’t stop wagging. I’ve been told my tail is solidly built, and has some force behind it should you get caught in the crossfire. Bonus fact: I have not chewed on a single non-living object in my foster home unless offered to me by my humans.
Food. I like it. I eat two meals a day, and won’t say no to treats in between. Though I don’t understand my fur-sibling’s affinity for leafy greens. Cheese is tasty though. Some might say I have a nasty habit for begging at human meal times. I just look though! I don’t lunge, or whine! My foster parents have been working on having me at least lie down while they eat.
Can we talk about the kitchen? Busy place. Smelly place. Tasty place. I like to smell just below countertop level, but I’m not interested in taking anything off of the counter. Don’t even know what “counter-surfing” means. I prefer all four paws on the tile at all times.
Housemates? I didn’t get to meet any small humans in my time so far in Nova Scotia, but my frenetic bouts of energy might be a little much for those smaller in stature. Cats? Haven’t seen any yet. Based on my prey-drive displayed in the backyard of my foster home when squirrels and their ilk have shown their faces, a cat might not be my favourite animal to share my space with. Other dogs? Love them. No issues with them although bigger ones would probably be best in case I feel the need to play.
I recently had a visit with the vet concerning some lumps and bumps I have. The vet isn't concerned about them at this time but would be something to keep an eye on. Other than that, I'm a healthy lady.
I am a pretty chill lady for the most part and very smart as I already know some commands. I can’t wait to join my forever family to share all the love and cuddles I have!
My adoption fee is a $450 donation to the rescue to help save more dogs like me. I am neutered, vaccinated, microchipped, and come with a 6-week trial of pet insurance from PetSecure and have all my doggy papers to come home to you! You can apply for me at https://form.jotform.com/60895241776264
This "cuddly companion" is available through Save a Life Animal Rescue Society, a non profit rescue organization from Nova Scotia. More info about her and other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE
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Jeremiah Wallace, CD
Jeremiah has been involved with many aspects of the Real Estate industry for over fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah